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BUNCHER CO. v. OFFICIAL COMMITTEE OF GENFARM

Nos. 99-3925, 99-3950.

229 F.3d 245 (2000)

BUNCHER COMPANY; Financial Institutional Funding, Inc.; Richard Santucci; John T. Stabile, v. OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF GENFARM LIMITED PARTNERSHIP IV, Cross-Appellants in 99-3950; Buncher Company; John T. Stabile, Appellants in 99-3925.

United States Court of Appeals, Third Circuit.

Filed October 2, 2000.

Attorney(s) appearing for the Case

Robert J. Ridge, Esquire (Argued) Katarincic & Salmon, 2600 CNG Tower, Pittsburgh, PA 15222, Attorney for Appellants, The Buncher Company, D.C. and John T. Stabile.

David B. Salzman, Esquire (Argued), Philip E. Milch, Esquire, Campbell & Levine, LLC, 1700 Grant Building, Pittsburgh, PA 15219, Counsel for Appellees/Cross-Appellants Official Committee of Unsecured Creditors of GenFarm Limited Partnership IV.

Before: BARRY, WEIS and GREENBERG, Circuit Judges.

OPINION OF THE COURT

WEIS, Circuit Judge.

In this appeal we conclude that when limited partners sold their interests to their financially strapped partnership, the transaction was a constructive fraudulent conveyance, and as such it was properly declared void by the bankruptcy judge. Because the ruling by the bankruptcy judge restored the former partners to their previous status of equity investors, it was unnecessary for the bankruptcy judge to rule on...

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